Reverse Mortgage

crisislooming asked: If I can not pay a home equity line of credit with one bank but I continue to pay the 1st mortgage what action does the home equity line of credit holder take? Both loans are up to date, but I will be unable to pay the HELOC much longer. I do not [...]

No Equity asked: I own a single family property in IL. I have a 1st mortgage that was 100% LTV that was used to purchase the home and a 2nd mortgage that is a 120% LTV that was used to consolidate debt. The value of the home is about $40,000 short of what I owe [...]

Ustun Inan Insurance asked: He suggested the Mortgage Companies negotiate with homeowners, instead of forclosures.What he didn’t tell you is that everytime Mortgage companies negotiate new loans, there are new fees,commissions and other expenses, and those are added to the loan balances upfront, increasing what the homeowners owe. There are no magic way to solve [...]

Erik S asked: A co-worker thinks the crises was caused by investors buying second homes to flip. I think it has been caused by first-time homebuyers getting loans they can’t support. Who’s right?Create a video blog

Bird lady asked: I was looking into buying mortgage insurance to cover me in case something happens. I found out this existed when someone I know died very suddenly. I went to the bank where my mortgage is and they told me they only offer it on new loans( my mortgage is 2 years old [...]

Martin9p2 asked: I bought several houses in my time and therefore thought I was an “expert” on getting a good mortgage. Now I’m looking for a straight answer on the best refinance rate, and a mortgage broker says pricing on loans includes factors that “were not there even one year ago”, such as: FICO score, [...]

Jason M asked: To me the real problem is not the mortgage companies willingness to deal out excessive loans it’s Americans accepting loans that they can not afford. And now they are whinning to the government to bail them out of their financial mistakes. How about lets hold these people responsible for their actions instead [...]

Woody asked: has anybody here lost a house to forclosure or “short sale” and had borrowed money on the house? If you did, what happens to the second loans?Content – Members-Only Content for WordPress

teachingmother asked: My husband & I purchased our condo with two loans from Bank of America: a 5/1 ARM @ 5.25% and a 2nd mortgage @ 6.75%. I would like to refinance our mortgages before the rates adjust. However, the value of our home has decreased over $100K. I have called Bank of America to [...]

wtpagano asked: I’ve purchsed many, from various companies, and I’m a very good loan officer. It’s all about closing loans, and I’m looking for good opportunities from quality lead sources. Please help if you have any advice.Create a video blog…instantly.